Useful information
Prime News delivers timely, accurate news and insights on global events, politics, business, and technology
Omer Taha Cetin | Anadolu | fake images
bitcoin fell sharply on Friday amid increased investor caution toward risk assets.
Bitcoin fell below the $93,000 mark earlier in the day before trading above that price in volatile trading.
The digital asset was last trading at $97,491.71, according to Coin Metrics, down about 5% from 24 hours earlier, when it was priced above $102,000.
The cryptocurrency hit an all-time high above $108,000 just this week, but has since sold off aggressively.
The Federal Reserve rattled markets in recent days as it signaled fewer interest rate cuts next year. Stock markets took a hit that trickled down to crypto assets.
The price of bitcoin has more than doubled this year, supported by several factors, including the launch of spot exchange-traded funds and Donald Trump’s victory in the US presidential election. He promised pro-cryptocurrency policies and his victory at the polls helped propel Bitcoin to its latest high.
With some markets on edge due to the Federal Reserve, part of the boost is coming from assets that have seen big gains this year.
teslawhich has been another big beneficiary of Trump’s victory, continued its post-election slide, with shares falling in premarket trading on Friday. Other big names like NVIDIA They were also lower during the session.
The fall of Bitcoin also dragged down other cryptocurrencies. Ether fell about 9%, and XRP fell 10% compared to the previous 24 hours.
